Photo by Alex Sava
The Employee Benefit Research Institute’s 2021 Retirement Confidence Survey found that, in 2021, American workers had near-record-high confidence in having enough money to live worry-free in retirement, despite the uncertainty of the pandemic. Retirees also remain confident, with eight in 10 saying they have enough money to retire.
But do they really?
According to Kiplinger, financial planners say money mistakes often threaten to derail the “Golden Years.”
If you haven’t put together a retirement plan and you’re winging it, it’s time to stop and see where you are financially and where you are headed.
Being unrealistic when it comes to your return on investment? It’s best to err on the side of caution and position your portfolio to avoid wild swings in the market, according to Kiplinger.
Or perhaps you are holding on to your money, fearful to spend, even if you can afford it. Some people work hard all their lives and never get the chance to enjoy the fruits of their labor. Kiplinger advises creating several bucket lists — one safety bucket, one income bucket and one growth bucket.
If your grown kids are still depending on you for money, make sure you are financially okay before offering money to them. Kiplinger suggests the best gift you can give your kids is teaching them financial independence.
Visit kiplinger.com.